Forecast at completion (FAC)
GeneralThe projected final cost of a project, calculated from actual cost incurred to date plus the expected cost of the work still remaining. Because it is an estimate, a forecast at completion should be presented as a prediction, not a booked figure.
Why it matters
A project budget says what the work was expected to cost; the forecast at completion says what it will actually cost, given everything that has happened so far. Reviewing it regularly turns an overrun into a decision taken in month two instead of a surprise in month six.
Formula
FAC = actual cost to date + estimate to complete (ETC)
Worked example
A project budgeted at €100,000 has spent €60,000, and the team estimates another €55,000 of work to finish. The forecast at completion is €115,000: an expected overrun of €15,000 against budget.
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